Saturday, December 1, 2012
KLCI: Worse Yet To Come:
It has been almost a year since my last coverage on KLCI direction. Today it trigger me to take a clear look at the index after hitting 1600 and close below it. To my surprise GOSH!!! What I can see here, only a red sea yet to come! I would advise those still holding big cap or blue chip or small cap to SELL on any rebound going forward (there would be a moderate rebound towards 163x level coming soon, if I am right).
Once the rebound done, more downward pressure will be seen to test the intermediate support 1580 level (if that do happen!). I would say this level will not be strong enough to support the sell down. I foresee the sell down might dive to the level 1500, even 152x support will failed! Just my prediction.
Note: Just beware of 1400!!! For time being just look at 1500. We will see how again when time come.....Hopefully 1500 will be the end of the downtrend!
This is not the time to accumulate your stock for long term. Only accumulate for short-term trade on rebound. Sell is the only way for this bear market. Well, 2013 think will not be a good year for our market. :-(
Hope there will be some small cap/penny stock that can run up. :-)
Happy Trading and Good Luck!
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